Lutf
They share the Arabic root l-t-f (ل-ط-ف), but Latif means 'subtle/gentle' as an adjective, while Lutf refers to the noun form 'kindness/grace'.
The root appears in verses describing God's subtle knowledge (6:103) and gentle mercy (22:63), though the specific nominal form Lutf is not used as a proper name in the text.
Lataif are the subtle spiritual organs of perception in Sufi psychology; Lutf as a name evokes the refinement of these centers.
Yes, though rare, it is phonetically simple and carries profound spiritual meaning without being difficult to pronounce.
Lutfah or Latifa are feminine forms, though Lutf itself is grammatically masculine.